Most savings and credit institutions lack the capacity to deliver quality services, but this could soon be history following a tailored training programme that is expected to equip staff with better reporting and accounting skills.
Damascene Hakuzimana, the Association of Microfinance Institutions of Rwanda (AMIR), senior advocacy and communications officer, said the training that started last week is aimed at promoting efficiency and transparency in the microfinace industry .
He said the training, which will focus on performance monitoring tools and systems, has so far attracted accountants from over 100 savings and credit institutions.
The performance monitoring system is a national database that consolidates and analyses data on the microfinance sector to enhance transparency and efficiency.
Hakuzimana added that the programme, which will cover the whole country, is also aimed at strengthening skills in financial data analysis and loan processing procedures, among others.
Under the programme, a one-stop centre for data collection is expected to be set up at AMIR headquarters to serve MFIs.
Peter Rwema, the AMIR acting secretary general, said the centre will ease access to information and help stakeholders make appropriate decisions.
Rwema, who was speaking during the launch of the programme at the Rwanda Institute of Co-operatives Entrepreneurship and Microfinance at Kabusunzu, Nyarugenge District last week, said there is need for the microfinance institutions to get analytical feedback on their performance if they are to create a more responsive industry.
Jean Claude Uwitonze, a data analyst at AMIR, said the system will facilitate production of various institutional, peer group and industry reports.
Rwanda’s microfinance sector is comprised of 13 limited companies, 64 non-Umurenge Saccos and 416 Umurenge Saccos.